š° Recently we've seen the #USDJPY show some strength. This is due to the fact that massive demand by the institutions are in play. We located this demand years ago and it finally came into play recently. With this demand in play it will cause the #JPY to be weaker and will remain somewhat weaker for some time which is why we have been forecasting that YEN pairs would rally strong.
We are taking advantage of the strength in the #JPY pairs and we've outlined upside targets we expect price to make contact with.
#AUDJPY (82.05) has just removed institutional supply and has opened a path for a move higher. We've seen good evidence to suggest that the #AUD can get stronger over time and this will do well for longs.
#CADJPY (83.38) we notified members of price increasing since the 80.88's, that's an increase of 286 pips. We are also expecting moire upside to come on this one as the #CAD is set to get stronger over time.
#EURJPY (128.07) we have upside target at the 130's on this one as major demand has come into play. We are waiting for the weekly uptrend to become valid because once that happens we are expecting upside targets to be reached in time.
#GBPJPY (146.76) I first gave out this long back in August of 2020 when price was 138.57 with targets at the 142's and that was successful. The we anticipated a major area of supply to be removed and a move higher to continue and this is now happening. We expect more upside over time and we have targets located higher up which we detailed in our observation journal.
Comments